Rohit Jain Appointed as Deputy Governor of Reserve Bank of India
Jain, currently an executive director, succeeds T Rabi Sankar for a three-year term starting May 3
Quick Look
- The Indian government has appointed Rohit Jain as a deputy governor of the Reserve Bank of India.
- Jain, currently an executive director at the central bank, will begin his three-year term on May 3, succeeding the retired T Rabi Sankar.
AI-generated summary
Why It Matters
The Reserve Bank of India is governed by the RBI Act, 1934, which mandates a structure of four deputy governors with specific roles, including internal promotions and external economic expertise.
The Indian government has appointed Rohit Jain as deputy governor of the Reserve Bank of India for a period of three years, according to a government notification issued on Friday.
Jain’s appointment will take effect from May 3. He is currently serving as an executive director at the central bank. His portfolio allocation as deputy governor is yet to be announced.
Jain succeeds former deputy governor T Rabi Sankar, who retired late last month after completing his tenure at the RBI.
According to the RBI Act, 1934, the central bank should have four deputy governors, two from within the ranks, one commercial banker and an economist to head the monetary policy department. The other three deputy governors are Swaminathan J, Poonam Gupta and S C Murmu.
Rabi Sankar was first appointed Deputy Governor in September 2021 for three years and was given a one-year extension in 2024 and subsequently in 2025.
What to Watch
AI outlook — possibilities, not facts
The RBI will announce the specific portfolio allocation for Rohit Jain shortly after he assumes office.
Likely · Within days
Open Questions
- What specific portfolio will Rohit Jain be assigned?
